Loan Closer job description
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What does a Loan Closer do?
The Loan Closer is crucial in finalizing and disbursing approved loans efficiently and accurately. This role ensures that all necessary documentation is completed and compliant with regulatory and institutional guidelines, contributing to customer satisfaction and reducing risk for the financial institution.
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What are the Key Responsibilities of Loan Closer
- Prepare and review loan closing documents to ensure accuracy and compliance.
- Coordinate with borrowers, attorneys, and underwriters to facilitate the closing process.
- Ensure all closing conditions have been met prior to funding.
- Calculate and verify closing costs and fees.
- Manage the scheduling and logistics of loan closings.
- Maintain accurate records and logs of all loan transactions.
- Resolve potential issues and discrepancies pre-closing.
What are the Skills and Requirements for a Loan Closer?
- Strong understanding of mortgage and loan closing processes.
- Excellent attention to detail and organizational skills.
- Proficiency in loan processing software.
- Outstanding communication and interpersonal skills.
- Ability to manage multiple tasks efficiently.
What are the KPIs to track for Loan Closer?
The Loan Closer's performance is measured by the timely and accurate closing of loans, maintaining error-free documentation, and improving customer satisfaction with minimal delays or complaints.
Timely Closings
Complete loan closings within stipulated timelines.
Accuracy of Documentation
Maintain error-free closing documents and compliance.
Customer Satisfaction
Enhance satisfaction through smooth closing processes.
Reports to
Loan Operations Manager
Collaborates with
Underwriting, Loan Processors
Leads
Loan Closing Assistants
Are any specific tools or software required for the Loan Closer role?
- DocuSign
- Encompass
- Microsoft Office Suite
What is the qualification of Loan Closer?
Associate's degree in finance or related field; 2-4 years experience in loan closing or processing.
